Really hoping some IPFS alternative takes off. Youtube has already been tanking in quality but no one changes because its a monopoly on online videos.
And if Twitter has shown us anything, it's that people legitimately won't leave a crappy platform unless there's a significant popular and better alternative that can scale immediately to demand.
Not sure how an IPFS option would work. I get the bandwidth issue slightly goes away as we'd all kinda share that cost but not really. IPFS isn't really free storage. Of all media shitty compression video is big and anyone who forgot to tune their torrent upload and accidently seeded something for too long knows you'll run out of monthly bandwidth allotments very fast.
peertube is already pretty good. The commenting liking and sharing all work with activity pub. there is also owncast for live streaming. I understand peertube maybe implementing live streaming too.
i would say there has been a lot of good work done to at least defed a lot of that stuff. some instances are topically-focused and i think that helps a lot. for instance, kolektiva.media is all leftist content, and tilvids is a lot of tech stuff but also some other educational material. and tilvids hosts a couple of youtubers content as well so if you like (i think 5) specific youtubers, you can watch em there.